Australian Wealth Management has added improve online reporting and research functions to its AustChoice platform to make it more attractive to wealth advisors.

The platform is distributed exclusively by AWM subsidiary DKN Financial Group. The online reporting improvements include access to real-time data with the ability for advisors to generate an online report and view live data, while the advanced search improvements are intended to make it easier for advisors to extract information.

Australian Wealth Management was formed in July 2003 as a division within the Tower Group, an Australian and

New Zealand financial services company. The new division was comprised of a number of Tower’s businesses, which had previously been operating independently in the wealth management industry.

In February 2005, the integrated wealth management division formally separated from the Tower Group and listed on the Australian Stock Exchange. In May 2006, Australian Wealth Management merged with Select Managed Funds.

In November 2008, Australian Wealth Management and IOOF Holdings announced their intention to merge.